{"id":1213856,"date":"2023-12-22T07:33:16","date_gmt":"2023-12-22T12:33:16","guid":{"rendered":"https:\/\/www.prime-wow.com\/?p=1213856"},"modified":"2023-12-22T07:33:16","modified_gmt":"2023-12-22T12:33:16","slug":"banks-use-your-deposits-to-loan-money-to-fossil-fuel-emissions-heavy-firms","status":"publish","type":"post","link":"https:\/\/www.prime-wow.com\/?p=1213856","title":{"rendered":"Banks use your deposits to loan money to fossil-fuel, emissions-heavy firms"},"content":{"rendered":"<div id=\"rss-wrap\">\n<figure class=\"intro-image intro-left\">\n  <img decoding=\"async\" src=\"https:\/\/www.prime-wow.com\/wp-content\/uploads\/2023\/12\/atm-bank-800x533-1.jpg\" alt=\"High angle shot of female hand inserting her bank card into automatic cash machine in the city. Withdrawing money, paying bills, checking account balances and make a bank transfer. Privacy protection, internet and mobile banking security concept\" \/><\/p>\n<p class=\"caption\" style=\"font-size:0.8em\"><a href=\"https:\/\/cdn.arstechnica.net\/wp-content\/uploads\/2023\/12\/atm-bank.jpg\" class=\"enlarge-link\" data-height=\"1414\" data-width=\"2121\">Enlarge<\/a> (credit: <a rel=\"nofollow\" class=\"caption-link\" href=\"https:\/\/www.gettyimages.com\/detail\/photo\/high-angle-shot-of-female-hand-inserting-her-bank-royalty-free-image\/1475209282\">d3sign<\/a>)<\/p>\n<\/figure>\n<div><a name=\"page-1\" \/><\/div>\n<p>When you drop money in the bank, it looks like it\u2019s just sitting there, ready for you to withdraw. In reality, your institution makes money on your money by lending it elsewhere, including to the fossil fuel companies driving climate change, as well as emissions-heavy industries like manufacturing.<\/p>\n<p>So just by leaving money in a bank account, you\u2019re unwittingly contributing to <a href=\"https:\/\/www.wired.com\/story\/heres-how-bad-climate-change-will-get-in-the-us-and-why-theres-still-hope\/\">worsening catastrophes<\/a> around the world. According to a <a href=\"https:\/\/drawdown.org\/publications\/saving-for-the-planet\">new analysis<\/a>, for every $1,000 dollars the average American keeps in savings, each year they indirectly create emissions equivalent to flying from New York to Seattle. \u201cWe don\u2019t really take a look at how the banks are using the money we keep in our checking account on a daily basis, where that money is really circulating,\u201d says Jonathan Foley, executive director of Project Drawdown, which published the analysis. \u201cBut when we look under the hood, we see that there&#8217;s a lot of fossil fuels.\u201d<\/p>\n<p \/><\/div>\n<p><a href=\"https:\/\/arstechnica.com\/?p=1992594#p3\">Read 9 remaining paragraphs<\/a> | <a href=\"https:\/\/arstechnica.com\/?p=1992594&amp;comments=1\">Comments<\/a><\/p>\n<p>&#013;<br \/>\n&#013;<br \/>\nSource: Ars Technica &#8211; <a href=\"https:\/\/arstechnica.com\/?p=1992594\" target=\"_blank\" rel=\"noopener\">Banks use your deposits to loan money to fossil-fuel, emissions-heavy firms<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Enlarge (credit: d3sign) When you drop money in the bank, it looks like it\u2019s just sitting there, ready for you to withdraw. In reality, your institution makes money on your money by lending it elsewhere, including to the fossil fuel &hellip; <a href=\"https:\/\/www.prime-wow.com\/?p=1213856\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1213857,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[27,110],"tags":[73],"class_list":["post-1213856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ars-technica","category-unfiltered-rss","tag-ars-technica"],"_links":{"self":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts\/1213856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1213856"}],"version-history":[{"count":0,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts\/1213856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/media\/1213857"}],"wp:attachment":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1213856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1213856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1213856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}